§553A-5 - Transfer authorized by will or trust.
[§553A-5] Transfer authorized by will or
trust. (a) A personal representative or trustee may make an irrevocable
transfer pursuant to section 553A-9 to a custodian for the benefit of a minor
as authorized in the governing will or trust. (b) If the testator or
settlor has nominated a custodian under section 553A-3 to receive the custodial
property, the transfer must be made to that person.
(c) If the testator or settlor has not
nominated a custodian under section 553A-3, or all persons so nominated as
custodian die before the transfer or are unable, decline, or are ineligible to
serve, the personal representative or the trustee, as the case may be, shall
designate the custodian from among those eligible to serve as custodian for
property of that kind under section 553A-9(a). [L 1985, c 91, pt of §1]